Securities Lawyers Blog
The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker Douglas Gene Schmitz (Schmitz), currently employed by Classic, LLC (Classic) has been subject to at least three customer complaints during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Schmitz’s customer complaints alleges that Schmitz engaged in misconduct relating to the handling of their accounts, including lack of fiduciary responsibility.
In August 2020, a customer complained that Schmitz violated the securities laws by alleging that Schmitz engaged in lack of fiduciary responsibility. The claim alleges $40,000 in damages and is currently pending.
In July 2020, a customer complained that Schmitz violated the securities laws by alleging that Schmitz did not follow direction to liquidate the customer’s account. The damage amount requested was $5,200. The claim was closed-no action.
In April 2020, a customer complained that Schmitz violated the securities laws by alleging that Schmitz engaged in a trade execution failure. The damage amount requested was $750,000. The claim settled in the amount of $275,000.